UBA Surpasses N1 Trillion Market Capitalisation On Nigerian Exchange, Share Price Hits N29.90

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January 9, 2024

The United Bank for Africa (UBA) Plc on Monday, joined the elite group of companies with market capitalization of over N1 trillion as its share price also hit N29.90 per share.

At the close of trading on Monday, the bank’s market capitalization hit N1.02 trillion, making it the third most capitalized financial institution in the country – a remarkable boost from N283.8 billion at the beginning of 2023. The bank has 34.19 billion shares in issue.

The N1 trillion market capitalization feat comes amid the bank’s share being named as the highest performing stock in the banking sector in 2023, which underscored its robust growth trajectory and unwavering market confidence.

Specifically, between the start of January 2023 and on Monday, the price of UBA shares had appreciated by over 250 per cent from N7.60 per share, the bank noted in a statement.

Commenting on the bank’s impressive performance, the Chairman, UBA Group, Tony Elumelu, said the bank’s remarkable journey in 2023, culminated in its shares being acclaimed as the highest performing stock within the banking sector.

He pointed out that this not only highlighted the bank’s strategic prowess but also reflected its commitment to delivering unparalleled value to shareholders and stakeholders alike.

Elumelu said, “As UBA celebrates these significant milestones, we will like all our stakeholders to know that we remain steadfast in our mission to drive sustainable growth, foster innovation, and create value for its diverse clientele across Africa.

“We are witnessing the impact of the business transformation drive UBA embarked on years ago and executed well. Naturally, the market has taken note of and is duly rewarding our efforts.

“To our stakeholders, our promise is that we will continue to work harder, deliver on what we know how to do well and create impacts across geographies where we currently operate.”

Also, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who expressed delight at the bank’s performance in the past few months, said with its unwavering commitment to excellence and execution, the bank continues to set benchmarks in the banking sector, reinforcing its position as Africa’s global bank of choice.

He said, “Market participants have begun to appreciate the latent capacity in UBA’s business model as the bank unlocks enormous potentials in its pan African and international operations.

“The bank’s unique competitive advantage lies in people, processes, and technology. With Operations and offices in 24 countries and on four continents, UBA is the only African bank with deposit-taking license in the USA.”

Alawuba added,” The bank’s fundamentals remain strong with impressive financial results that have continued to deliver sustainable value for its shareholders.

“At current price, UBA trades at price-to-earning (P/E) and price-to-book (P/B) multiples of 2.27 and 0.59 which are a reflection of the market’s expectations of the Bank’s future growth potentials.”

UBA is listed on the Premium Board of the Nigerian Stock Exchange in recognition of the Bank’s strong adherence to international best practices on corporate governance and remains committed to creating value for its over 275,000 esteemed shareholders spread across the globe.

The outgone year, 2023, has been a splendid year for the bank, becoming the most profitable bank in Nigeria in 2023, with a shareholders’ fund that has grown from N992 billion in 2022 to N1.8 trillion as of September 2023.

UBA was also appointed as the Local Arranger and Local Depository Bank for the $3.3 billion FX Liquidity support facility for Nigeria in partnership with Africa Export and Import Bank (Afreximbank), providing solutions to economic challenges in Nigeria characterized by shortage of FX liquidity.

Likewise, in 2023, UBA won the 2023 FMDQ Gold Awards in three Categories including the Best FX Liquidity Provider; Dealing Institution of the Year and Best Money Market Liquidity Provider. This recognition is a testament to UBA’s impressive capital strength.

UBA is a leading Pan-African financial institution, offering banking services to over 25 million customers across 1,000 business offices and customer touch points in 20 African countries.

With presence in New York, London, Paris, and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

Source : Arise News

Peter Obi, Lumumba, Other African Leaders To Speak At Ghana’s’ Africa’s Future’ Convention

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bvichannel1

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January 7, 2024

The presidential candidate of the Labour Party (LP), Peter Obi, is scheduled to address the way forward for Africa at the “Igniting the Voice of Africa” convention in Ghana tomorrow.

The convention will take place at Ghana’s Kwame Nkrumah Independence Square, starting at 5 p.m.

Hosted by the New Africa Foundation, the “Igniting the Voice of Africa” convention serves as a platform for African leaders to contemplate the continent’s developmental path, aiming to chart a course for the future.

Coinciding with Ghana’s inauguration day, the event not only assesses leadership but also strives to promote unity among Africans, fostering a shared vision of progress.

In addition to Peter Obi, other African leaders will also speak at the event. Julius Makema from South Africa, P. Lumumba from Kenya, and Dr. Arikana from Zimbabwe are expected to deliver speeches, emphasizing effective leadership and the involvement of youth in advancing one of the Foundation’s core objectives — contributing to Africa’s development.

Breaking: Ondo State Governor is Dead

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Queen Madu

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December 27, 2023

Oluwarotimi Odunayo Akeredolu was a Nigerian lawyer and politician who served as governor of Ondo state from 24 February 2017 until his death on 27 December 2023, after a prolonged battle with leukemia, Bvi channel one gathered.

may his soul Rest In Peace.

Queen Madu reporting for Bvi channel one.

Appeal For Leniency: BDFCG Rubbishes Former Petroleum Minister, Allison-Madueke

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Joseph Albert

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December 27, 2023

… hits Zamfara Governor; Dare, faults ministerial appointment of Bagudu

The Biafra De Facto Customary Government (BDFCG) says it is gravely concerned about pervasive corruption within the Nigerian government, particularly the ones involving the Petroleum Minister under the Jonathan administration, Mrs. Diezani Allison-Madueke, former Executive Director of First Bank Nigeria PLC and current Zamfara State Governor, Lawal Dare, as well as former ally of General Sani Abacha, Abubakar Atiku Bagudu, among other high-ranking officials.

It noted that billions of dollars “shamelessly embezzled” by the officials are meant for the development and well-being of the people.

Speaking in press statement signed by BDFCG Spokesperson Prosper Odinga, the group drew attention to the case of Mrs. Allison-Madueke, who fled to the United Kingdom amidst fears of prosecution by the Economic and Financial Crimes Commission (EFCC), describing her case as “a symbol of the unchecked and public servants recklessness”.

It noted that the former Petroleum Minister had implicated the current Zamfara State Governor and former Executive Director of First Bank Nigeria PLC, Dauda Lawal Dare, in what was termed “an egregious act of betrayal of public trust”, quoting the Minister as saying that she entrusted over 9 billion dollars to Mr. Dare for safekeeping during his tenure at First Bank Nigeria PLC.

On ministerial appointment of former ally of General Sani Abacha, Abubakar Atiku Bagudu, BDFCG described it as a move that further tarnished the reputation of the government, and raises serious questions about the government’s commitment to rooting out corruption.

Details of the press statement below:

Biafra De Facto Customary Government (BDFCG) Confirms Nigeria Public Agencies As Capitalist Organisation(s)

Biafra De Facto Customary Government (BDFCG) Confirms Nigeria Public Agencies As Capitalist Organisations

The Biafra De Facto Customary Government (BDFCG) is gravely concerned about the pervasive corruption within the Nigerian government, particularly involving high-ranking officials who have shamelessly embezzled billions of dollars meant for the development and well-being of the people.

We, the BDFCG, wish to draw attention to the case of Mrs. Diezani Madueke, the former Petroleum Minister under the administration of President Goodluck Jonathan. Mrs. Madueke, who fled to the United Kingdom amidst fears of prosecution by the Economic and Financial Crimes Commission (EFCC), has become a symbol of the unchecked and public servants recklessness. In a shocking revelation, Mrs. Diezani Madueke has implicated Dauda Lawal Dare, the current Zamfara State governor and former Executive Director of First Bank Nigeria PLC, in an egregious act of betrayal of public trust. According to Mrs. Madueke, she entrusted over 9 billion dollars to Mr. Dauda Lawal Dare for safekeeping during his tenure at First Bank Nigeria PLC.

This revelation underscores the extent to which corrupt elements within the Nigerian government have brazenly siphoned public funds for personal gain. It is deeply troubling that individuals entrusted with public office, who should be serving the interest of the people, have become complicit in large-scale corruption, thereby hindering progress and development.

The BDFCG emphasizes that the billions of dollars embezzled by criminal elements in government, especially in the Petroleum sector, are sufficient to build brand new refineries, and if properly utilized, these funds could have transformed the nation’s energy sector and provided employment opportunities for countless citizens. This, however, has proven to be an elusive dream for the government due to the very criminal elements running the government, hoping to get away with their crimes.

Furthermore, the BDFCG is appalled by the unimaginable audacity of Mrs. Diezani Madueke in seeking forgiveness for her crimes from President Tinubu. This blatant appeal for leniency is a glaring proof that corruption has seeped into the highest echelons of the Nigerian government and her agencies. We are particularly concerned about the recent appointment of Abubakar Atiku Bagudu as a minister, a move that further tarnished the reputation of the government.

Abubakar Atiku Bagudu’s offshore dealings, as detailed in the Pandora Papers, reveal a concerning history of financial impropriety. As a former ally of the notorious Nigerian dictator and looter, Sani Abacha, Bagudu’s appointment raises serious questions about the government’s commitment to rooting out corruption.

This press statement serves as a stark reminder to other corrupt elements within the Nigerian government that their crimes will not go unnoticed or unpunished. The BDFCG remains committed to promoting Biafra ideology of Good Governance, equity, fairness and justice transparency.

Prosper Odinga
Spokesperson, BDFCG
Phone: +19173465419
Email: biafradefactogov@gmail.com
Website: www.bdfcg.org

BVI Channel 1 Wishes All Her Subscribers Happy Xmas Celebration

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bvichannel1

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December 25, 2023

This is to appreciate all our Subscribers and fans for their unalloyed and continuous supports including their prayers for the sustenance of BVI Channel 1 brand in this period of love and celebration of birth of Jesus Christ.

We wish to inform you that your online Tv Station has gotten the attention of our people globally.

In less than one month, we have recorded an unprecedented growth in the subscription rate ,placing BVI Channel 1 as one of the fastest trending Channels in YouTube google rating. Our average daily growth rate iro subscription has increased from 75 to 135 in the last 3 weeks, indicating market confidence and increasing public acceptance of BVI Channel 1 contents of good Governance, economic and political freedom as well as service to humanity.

The business implication of this positive growth trend is that more people would love to place their advert on BVI contents which will increase the demand for more quality contents.

To achieve success is one and to manage a success is another, however, BVI Channel 1 with a Team of dedicated,committed and ideologically driven Staffers will continue to be ethical and professional at all times in line with her core values of integrity, professionalism, client satisfaction and the voice of the voiceless.

We want to remind all our fans that BVI Channel 1 was created to promote the Biafra ideology of equity, fairness, freedom and justice.Our Team believes that the right for self determination is an inalienable rights for all people and that media is positioned to promote such right, hence the task before BVI Channel 1.

Being conscious of the task before us, we cannot go far on the ideological and revolutionary media coverage without your moral and financial supports.Our operational terrain is quite frustrating and as you may know, Nigeria Government has put measures in place to discourage investigative journalism as well as insistence on ethics. We, therefore, implore our dear Subscribers and fans to patronize our efforts through local advert or sponsoring of our numerous community media projects .

Finally, we want to reassure all of us here that we have taken decision to succeed and to be rated the best online TV in Africa. The spirit of Biafra lives in us.

Thank you.

BVI Channel 1 Admin

+234-8104207522

EEDC Has Failed Us This Xmas – Ndubuisi,GGM

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bvichannel1

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December 24, 2023

Most ‘big men’ have resorted to self help! Solar system or Generator set has become main sources of electricity supply at cut throat cost. Average people like us are being neglected and ignored . Yet ,nobody talks about the poor services rendered by electricity monopolist – EEDC ! Prof Soludo Government has always defended the state monopolist – EEDC. So sad that Solution Government has partnered with this EEDC to deliver ‘darkness’ to our dear people.

My brother family came back from Cameroon and for 3 days running ,there are total blackout from EEDC. On 20th December,EEDC marketers came to my house for revenue drive . There was light that day . Immediately after revenue drive ,light disappeared . In Cameroon where my brother came from , the children has never seen electricity blackout . Which kind of impression are we creating in the minds of these younger generations? That there is hope in our land ?

Yet ,nobody is sanctioned for service failures. If I call MTN service center number , my problem will be sorted out within few minutes. But , EEDC officials will be waiting for gratification before they could render services paid for ! This is failure of the Government!

Electricity is now on concurrent list ,meaning that the State can issue licences for power generation , transmission and distribution. State can set up State Electricity Regulatory agency ! The last time I raised the issue here , somebody reminded me that Solution Government has signed MOU with the EEDC and my position was clear then . Most people no longer bother themselves with public services . Most people have lost confidence in Government activities,hence personal efforts but Good Governance Ministry ( GGM) will always speak for public interest. Happy Sunday. Ndubuisi Anaenugwu GGM

Soludo Buries Father ,Peter Obi And Many Others Attend The Burial

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bvichannel1

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December 24, 2023

It was a gathering of who is who Isuofia, Aguata Local Government Area of Anambra State as the State’s Governor, Prof. Chukwuma Charles Soludo buried his father, Late Pa Simeon Soludo.

The burial, which held on Saturday 23rd December ,2023 began with a holy mass held at the St. Theresa’s Catholic Church in Umueze Isuofia, drew the presence of personalities from different walks of life, including the Vice President of Nigeria, Alhaji Kashim Shettima; the 2023 Labour Party Presidential Candidate, Mr. Peter Obi; Governors Peter Mba of Enugu State, Hope Uzodimma of Imo State, Alex Otti of Abia State, Ministers, Senators, Members of the House of Representatives, Members of the Anambra State Executive Council, State Legislators, Bishops, Priests, Professionals, and Captains of industry, among many others.

In his homily at the solemn burial mass, the Catholic Bishop of Ekwuluobia Diocese, His Eminence, Peter Cardinal Okpalaeke, who consoled the bereaved, described the deceased as an individual whose life was noteworthy for its outstanding contributions, accentuating his commitment to family, community, and making the society a better place to live. The Bishop also expounded on the enduring legacy left by Pa Soludo, shedding light on his multifaceted impact on those around him.

In his brief remarks, Governor Soludo expressed profound gratitude to the clergy members in attendance at the burial mass, acknowledging their indispensable support, guidance, and comforting spiritual presence.The Governor also extended heartfelt thanks to all participants in the funeral service, conveying sincere appreciation for those who took the time to pay their respects, offered prayers, and provided various forms of support to the Soludo Family during the challenging time of grief. He thanked God for the kind of life his father lived, while also noting that his memory will forever remain in their hearts.

Recall that Pa Soludo, popularly known as Ichie Akụkananwa 1, died in the early hours of Monday, November 6, 2023, at the age 92. He is survived by seven sons, eight daughters-in-law, twenty-two grand-children and six great-grand children.

Ex-Petroleum Minister, Diezani Begs Tinubu For Forgiveness

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bvichannel1

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December 23, 2023

Diezani who is reportedly in the second stage of cancer implored Tinubu to permit her to return to Nigeria to confess to her financial misconduct during her tenure.

Diezani Madueke, a former petroleum minister under former President, Goodluck Jonathan, who fled to the United Kingdom due to fears of the Economic and Financial Crimes Commission has appealed to the President Bola Tinubu-led Nigerian government for leniency.
Diezani who is reportedly in the second stage of cancer implored Tinubu to permit her to return to Nigeria to confess to her financial misconduct during her tenure.
Speaking to the press in London after a medical visit, the ex-Petroleum minister, accused of embezzling billions of dollars from Nigeria, expressed her readiness to disclose details of the funds she allegedly misappropriated while in office.

According to our Reporter, she said, “I am now a born-again Christian and currently grappling with the second stage of cancer, for which my United Kingdom-based physician has advised me to continue medication for the rest of my life. Yes, no one is flawless, but sometimes, God Almighty permits such occurrences.

“I’ve been accused of financial misconduct during my tenure as the petroleum minister, and it’s true. However, I would like President Bola Tinubu and Nigerians to forgive me, allow me to return home, and contribute because life is transient.”

She went on to mention her association with Dauda Lawal Dare, the current governor of Zamfara State, to whom she entrusted over 9 billion dollars for safekeeping while he served as the Executive Director of First Bank Nigeria PLC.

She said, “My husband and my entire family members including my Nigeria lawyer based in the United Kingdom knew my relationship with Dauda Lawal Dare, the current Zamfara State governor whom I entrusted over 9 billion dollars for safe keeping while he was the Executive Director of the First Bank Nigeria PLC .
“Unfortunately, it has now come to a point that Mr Dauda Lawal is no longer picking my phone calls and even worked in Collaboration with UK police to put me under Surveillance, may be to claim the money I entrusted to him when I die.”

SaharaReporters had in October reported that a court in UK is trying Alison-Madueke over bribery allegations.
The Westminster Magistrates Court adjourned hearing on the suit involving Alison-Madueke for allegedly accepting a £100,000 bribe.
The UK’s National Crime Agency (NCA) stated in August 2023 that they suspected Alison-Madueke of accepting bribes in exchange for awarding multi-million pound oil and gas contracts.
The NCA stated on its website that Alison-Madueke “is alleged to have benefited from at least £100,000 in cash, chauffeur-driven cars, private jet flights, luxury vacations for her family, and the use of multiple London properties.”
Meanwhile, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, submitted a warrant of arrest and request to the Crown Prosecution Services of the United Kingdom for the urgent extradition of Allison-Madueke.
EFCC had on October 2, revealed that it had commenced extraditing Mrs Alison-Madueke from the United Kingdom back to Nigeria over 13-count charges bordering on money laundering levelled against her by the anti-graft agency.

Source : Tribune

BREAKING : Pope Francis okays blessings for same-sex couples

By

Adamma Ikeogu

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December 19, 2023

VATICAN-RELIGION-POPE-HEALTH-VIRUS-EASTER-SUNDAY-MASS — Pope Francis delivers his Urbi et Orbi message and gives Easter blessing following Easter Sunday Mass on April 12, 2020 behind closed doors at St. Peter's Basilica in The Vatican, during the country's lockdown aimed at curbing the spread of the COVID-19 infection, caused by the novel coronavirus. (Photo by Andreas SOLARO / POOL / AFP)

Pope Francis has granted permission for priests to bestow blessings upon same-sex couples, marking a significant milestone for the LGBTQ+ community within the Roman Catholic Church.

The BBC reports that the head of the Roman Catholic Church stated that, in some cases, priests ought to be able to bless same-sex and “irregular” couples.

However, the Vatican has emphasized that blessings should not be incorporated into routine Church ceremonies or associated with civil unions or weddings.

It added that it continues to view marriage as between a man and a woman.

A Vatican document outlining the move was approved by Pope Francis on Monday.

Although the document itself states that priests must make decisions on a case-by-case basis, the Vatican said it should be a sign that “God welcomes all.”

Cardinal Víctor Manuel Fernández, the prefect of the Church, while introducing the text, made it clear that the revised position does not confer official recognition to same-sex couples within the Catholic Church.

Rivers Crisis: Tinubu has No Constitutional Right To Intervene In States’ Matters, Says Robert Clarke

By

Adamma Ikeogu

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December 19, 2023

Elder Statesman and Lawyer, Robert Clarke (SAN), has said that President Bola Ahmed Tinubu does not have any constitutional right to have waded into the Rivers State controversy and power tussle between Rivers State governor, Siminalayi Fubara, and the Federal Capital Territory (FCT) Minister, Nyesom Wike.

Clarke said this in an interview with ARISE NEWS on Tuesday, also saying that the idea of independent candidacy in elections, where one is free from political party affiliations, will solve majority of the political issues in Nigeria.

Responding to the question of the presence of the president’s constitutional role to intervene in state matters, Clarke said, “The constitutional role of the President in all this fracas – there should have been none. Because we were not expecting it, none has been provided for.

“The only time, the only constitution that allows the Federal government to put its mouth in a local thing is during the first republic when a declaration of emergency was declared in the west.”

He went on to say, “The president has no power, he knows that. The best legal brain cannot help him. You can’t bring Robert Clarke to come and change the law to enable the president to come and intervene. Under what constitutional provisions? So, the law by itself as of today did not provide (a constitutional right for Tinubu to intervene in State matters).”

As he further described the tussle between Fubara and his predecessor Wike, Clarke said, “The situation of godfatherism has arisen because of what we have on ground, because we don’t have independent candidates. If an independent candidate had won the Local Government election in Nigeria, will the governor call him? Which party will discipline him if he does not answer?

“The question of independent candidates if attached and fought well for will not give rise to godfatherism. So, let us try and start from that which is necessary for us to survive our matters.”

The elder statesman also said that the constitution should be amended in particular areas, saying, “Once you do those three areas in Nigeria today, I can assure you, you won’t hear about any court cases. Number one, Local government. Number two, election- who can belong to a party, and why should a party be a dominant factor in elections in Nigeria? Once we can sift these three things, this country will move forward.”

Clarke then touched on the demolition of the Rivers State House of Assembly, which was ordered by Fubara, who cited renovation as his reason for the demolition of the building. The lawyer said, “A governor cannot wake up in the morning and call his utility man, go and break that door. The man will ask him, where is the authority of the Local government? We don’t have such. The problem is that we Nigerians, we have allowed the politicians to subdue us with money, and that money is what is killing all of us. That money is killing all the elders. All the elders in Rivers State today, those who are supporting this, it’s all money, don’t listen to them.

“The violation of rights in Rivers State can be rectified by the people of Rivers State themselves. Let the big men in Rivers State, let them come out, call a rally, tell the people that we cannot continue to live when the properties of the state is being broken down by politicians.”

Source : Arise News